Step 1 :First, we express $\sec \theta$ and $\tan \theta$ in terms of $x$ and $y$ respectively.
Step 2 :From $x=5 \sec \theta$, we get $\sec \theta = \frac{x}{5}$.
Step 3 :From $y=5 \tan \theta$, we get $\tan \theta = \frac{y}{5}$.
Step 4 :Now, we substitute these expressions into the identity $\sec^2 \theta = 1 + \tan^2 \theta$ to get an equation in terms of $x$ and $y$ only.
Step 5 :This gives us $\left(\frac{x}{5}\right)^2 = 1 + \left(\frac{y}{5}\right)^2$.
Step 6 :Simplifying this equation gives us the cartesian equation of the curve.
Step 7 :The cartesian equation of the curve is $\boxed{x^2 = 25 + y^2}$.